Chicago PE firm Wind Point Partners and Ascensus Specialties LLC have agreed to acquire Butler County’s Callery LLC, a global producer of boranes and specialty alcoholates, from Cleveland PE firm Edgewater Capital Partners. The strategic acquisition is expected to help Ascensus become a global reagents leader with No. 1 market positions in high- growth, attractive life science, pharmaceutical, and niche specialty industrial end markets.

The terms of the transaction were not disclosed. The transaction is expected to close within the next 30 days. Callery CEO Harry Rathore will be joining the Ascensus board and overseeing the transition to Ascensus ownership.

Both Ascensus and Callery have recently undertaken capacity expansions.

Based in Evans City, Pennsylvania, Callery produces specialty reagent chemicals primarily for the pharmaceutical, life science, and niche specialty end markets. The company was formed in 2017 through Edgewater Capital’s acquisition of BASF’s Inorganic Specialties business.

Headquartered in Bellevue, Washington, Ascensus is the largest global producer of dry and liquid sodium borohydride. Wind Point originally acquired the business from Dow Chemical in 2015 and subsequently invested in production expansion and additional supply chain and information technology leadership.